The mobile applications market recently recorded one of their largest holiday seasons in history. On Christmas Day alone, consumers globally spent $196 million on apps, in-app purchases and subscriptions in the Google Play and iTunes stores combined, according to Sensor Data.
The size of the global app user base reached 3.4 billion in 2016 and is expected to double in size by 2021, according to business analyst firm App Annie. The iTunes store now hosts 2.2 million apps, according to Slash Gear, andGoogle Play topped 3 million apps in June of 2017, according to Statista.
Mobile e-commerce has grown at such a fast rate that economists have given the specific brand of online shopping its own name: m-commerce. According to an article recently published by Forbes, m-commerce spending is projected to reach $284 billion by 2020 and account for nearly half of all e-commerce.
